TREES Corporation (CANN)

[Warlon]

General Cannabis Announces Record Revenues and 2018 Second Quarter Results

Revenue of $1.11M (+32.1% Y/Y)

https://seekingalpha.com/pr/17240088-general-cannabis-announces-record-revenues-2018-second-quarter-results

“We broke the $1 million revenue ceiling in the second quarter of 2018, with revenues of $1,114,541, an increase of 34% over 2017. Year to date revenues increased 32% in 2018 over 2017,” said Robert Frichtel, Chief Executive Officer of General Cannabis. “Our Operations segment continues to find opportunities from the expansion of legalized cannabis in numerous states, our Security segment is gaining traction in California, and Chiefton’s apparel business is achieving broader, national success,” continued Mr. Frichtel.

“With a suite of goods and services for customers across the cannabis industry, we are realizing the benefit of providing a synergistic set of solutions to help cannabis businesses realize their growth potential,” said Joe Hodas, Chief Operating Officer of General Cannabis. “Our revenue growth reflects the effectiveness of our focus on driving sales and the quality of our deliverables. In addition, I am proud to share that we became founding members of the Cannabis Trade Federation in the second quarter, which is a tangible demonstration of our belief in the importance of supporting the industry by driving legislation favorable to its continued expansion,” continued Mr. Hodas.

“I am confident that breaking the $1 million quarterly revenue level in the second quarter is a proof of concept for our ability to be the comprehensive national resource to the regulated cannabis industry. Our access to capital, our strong balance sheet and our infrastructure expertise allow us to partner with companies throughout the industry, while positioning us to continue to expand through acquisitions,” said Michael Feinsod, Executive Chairman of General Cannabis. “We are ready to explore investments and acquisitions of companies in the regulated cannabis industry. Our team of experts will respond quickly to serious inquiries. Access to capital and thought leadership is difficult in the cannabis industry. Our proven track record of integrating entrepreneurial cannabis start-ups and positioning them with the resources and capital needed to succeed, however, is working,” continued Mr. Feinsod.

“California is allowing each county and city to develop its own licensing system. While California presents a tremendous opportunity for us, their regulatory environment is a challenge to cannabis businesses,” said Mr. Frichtel. “We are proceeding cautiously and establishing a presence in California. With our diversified platform of goods and services, we will be ready to take advantage of the opportunity when businesses determine how to overcome California’s regulatory challenges,” continued Mr. Frichtel.